FEATURED ARTICLES ABOUT JSW GROUP - PAGE 5

MUMBAI: The JSW Group, which was among the first conglomerates last year to hold back most of its major capital expenditure and greenfield projects due to the global financial crisis, has decided to revive two projects estimated to over Rs 2,000 crore together, encouraged by an improvement in the overall manufacturing sector. The Mumbai-based group will resume work on a Rs 1,500-crore, 5-mt cement plant that it had put on the backburner after doubts were raised last year about cement consumption, after construction and infrastructure work came to a standstill.

KOLKATA: Sajjan Jindal's JSW Group is gearing up for its maiden entry into Indian football. The $15 billion conglomerate, has just bagged the franchise for a new team in the I-league run by the All-India Football Federation (AIFF). The group had applied for and got the rights for Bangalore team from AIFF. Incidentally, the group's flagship unit JSW Steel is located in Karnataka with the JSW steel plant located close to Bangalore. The venture will be spearheaded by the group's newly created sports arm, JSW Sports.

MUMBAI: JSW Steel , the flagship company of the Sajjan Jindal-led JSW Group , said its first quarter net profit grew 64% due to higher product prices and increased production. The company, which is now India's largest steelmaker by capacity, said its profit rose to Rs 485 crore compared to Rs 295 crore last year. Revenue in the April-June quarter was up 54% at Rs 7,430 crore. "It was one of the good quarters for JSW with volume growth and higher sales contributing to the profit, despite a slump in demand," joint managing director Seshagiri Rao said.

A panel appointed by the Supreme Court has recommended that the apex court direct CBI to look into linkages between the donation of Rs 10 crore made by South West Mining, an associate firm of JSW group and alleged receipt of illegal mineral ore by JSW Steel and the alleged favours shown to it in respect of Mysore Minerals Limited. The panel has also recommended that the land purchased by the former chief minister of Karnataka Yeddyruppa's immediate family for Rs 0.4 crore in 2006 and sold to South West Mining for Rs 20 crore in 2010 be looked into by the investigating agency.

BANGALORE: The Karnataka Government is looking at over Rs 20,000 crore investments in micro, small and medium enterprises (MSME) sector in this year's two-day Global Investors Meet (GIM), which started here today. "About 8,000 companies are participating in GIM 2012 and we are looking at over Rs 20,000 crore investments in MSME sector," a top government official said. The meet was inaugurated by Chief Minister D V Sadananda Gowda. Best part of the current GIM is that many participants are cluster-based companies like plastic, packaging, machine tools, medical equipment, precision engineering, areospace and pharma among others, the official told reporters.

NEW DELHI: JSW Holdings, the investment arm of the JSW Group , has sought shareholders' nod for financial transactions worth Rs 2,500 crore with various entities, including group firm JSW Steel. The promoter group entity also approached shareholders for approval to give guarantee, mortgage or pledge, among others, on properties of the company. In this regard, the limit would be up to Rs 2,200 crore. In a regulatory filing today, JSW Holdings said it has sought nod from the shareholders for both the proposals.

MUMBAI/NEW DELHI: Reliance Power, owned by billionaire Anil Ambani, has abandoned plans to acquire the hydropower business of Jaiprakash Power Ventures Ltd, terminating what would have been one of the largest deals in the Indian power sector. But even as the deal between the two crumbled, another transaction appeared to be taking wings with Sajjan Jindal-owned JSW Energy entering the fray again. On Thursday, senior representatives of the JSW Group are expected to meet Jaypee group chief Manoj Gaur in New Delhi to revive talks on its hydro assets, said people in the know.

MUMBAI: Sajjan Jindal, the promoter of JSW Steel, India's largest private steelmaker by domestic capacity, is set to lose over Rs 500 crore paid as initial deposit for preferential warrants allotted in June last year that will be due for conversion on Thursday at a price more than double the current rate. Twenty-five per cent of the value of the securities, or Rs 529 crore, was paid up front, under regulations governing convertible warrants while the remaining amount, Rs 1,588 crore, was to be paid after 18 months.

India Inc will usher in the New Year with the high-profile wedding of Nayantara , daughter of Chennai industrialists ShyamKothari and Nina Kothari , with Shamit , son of ShobhanaBhartia (chairperson of Hindustan Times, daughter of industrialist KKBirla ) and Jubilant Group CMDShyamBhartia . Nayantara's mother Nina is Dhirubhai Ambani's daughter. To celebrate his niece's wedding, uncle Mukesh Ambani is hosting a party in his 27-storied residence, Antilia, in Mumbai on January 5. Shamit's and Nayantara's is the latest example of how business families in India often come together through weddings.

KOLKATA: The JSW group which proposed to set up a five million tonne steel plant at a cost of Rs 10,000 crore in West Bengal, is eyeing one block of the Chiria mine in Jharkhand for supply of iron ore for the project. "If the ruling party here takes up the matter strongly with the Centre and the Prime Minister for one block of Chiria mine, it will not be very difficult because ultimately the whole region must be developed," Vice-Chairman and Managing Director of JSW Steel Limited Sajjan Jindal told PTI here.